UK/REPUBLIC OF IRELAND: Musgrave to buy Budgens in £232m deal
UK supermarkets group Budgens was bought by privately owned Irish grocer Musgrave earlier today [Friday] in a deal worth £232m (US$347m), or £1.35 per Budgens share. In August 2000 Musgrave, which also owns the SuperValu and Centra brands, paid German retailer ReWe £89.4m for its initial 28% stake in Budgens. It has also has convertible loan stock that takes its total holding to around 45%.
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